Player of the Week: Sequestration

The so-called sequestration, which would slash about $500 billion in defense spending, has its share of critics in both parties. Defense contractors also cry foul, unsure of how they should proceed with possible layoffs in early 2013.

The Office of Management and Budget later this week will detail how it would implement sequestration in a highly anticipated report, which was mandated by the Sequestration Transparency Act. That bipartisan bill was passed by Congress last month.

Some political analysts believe that sequestration will be postponed as part of an agreement to deal with the pending “fiscal cliff.” But such an accord, if it happens, won’t occur until after the elections.